The Federal Ministry of Education, in partnership with the Bank of Industry, has announced the launch of a N15 billion Tertiary Institution Staff Support Fund (TISSF) to improve the welfare of staff in Nigeria’s higher institutions. The scheme aims to provide financial relief and encourage development in the education sector.
According to the Ministry, the facility offers a Single Obligor Limit of N10 million, with a 12-month moratorium and a repayment period of 60 months. It is interest-free and will be repaid directly from the salaries of beneficiaries.
“The TISSF is designed to support both academic and non-academic staff of Federal and State Universities, Polytechnics, and Colleges of Education,” the Ministry stated.
Who it is for:
i. The scheme is for Fulltime Tertiary Institution Staff.
ii. Academic and Non-Academic staff of:
Federal and State Universities
Polytechnics
Colleges of Education (Federal and State)
What it can be used for:
i. Staff welfare, professional development and certifications
ii. Primary Residence Expenses (Accomodation, rent, renovation, etc.)
iii. Medical Needs
iv. Transportation (car purchases, maintainance and repairs, tricycles)
v. Family support/emergencies
vi. Agriculture and Entrepreneurship: small-scale farming, livestock, and agro-processing
Interested staff can apply through tissf.education.gov.ng.
